New survey reveals importance of mentoring and training for today’s young entrepreneurs
Non-financial support is a vital factor behind the success of today’s young entrepreneurs, a YBI survey of 1,000 entrepreneurs in 21 countries today reveals.
The survey, launched today to mark Global Entrepreneurship Week, shows that although entrepreneurs need money to start up their business, it is the non-financial assistance, such as mentoring and training, that ensures that their business is a success and that they are able to repay their loans.
The research shows that as a result of receiving non-financial support:
Andrew Devenport, Chief Executive of Youth Business International, said:
“In these worrying economic times, when in many parts of the world the demographic spotlight is on youth, this report provides insights into the motivations and inspirations of young entrepreneurs, their needs, their experiences and their capabilities.”
The survey was in the field between Monday 15 August and Friday 9 September 2011, and a sample of 1,023 young entrepreneurs from 21 countries took part in the survey.
This blog was first published here, and is reproduced with permission
For more about Youth Business International, visit their website or follow them on Twitter (@YouthBizInt)
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Great news for us. Volta action for enterprise is supporting this. Good coaches/mentors are in short supply. Can coaches/mentors support us? can any one help ? contact [email protected]
Quite interesting one.For the first generation youth entrepreneurs motivation plays very vital role in finding out Who Am i? If you have a successful 5 days Achievement Motivation training programme(AMT) at the beginning of the EDP programme you can really inculcate entrepreneurial traits among the budding entrepreneurs.My experience with several youth groups in different countries is that those having high Need for Achievement(NACH) really succeeds in business.